How To Claim Bitcoin Cash and Sell for Bitcoins

How To Claim Bitcoin Cash and Sell for Bitcoins

NOTE: Bitcoin Cash, the chain split or Fork and mining of Bitcoin Cash is relatively new. So relax. Listen and/or Read the instructions and follow them carefully. BE SURE TO TRANSFER ALL OF YOUR BITCOINS OUT OF YOUR BITCOIN WALLET INTO ANOTHER BITCOIN WALLET. This will ensure you don’t lose your Bitcoins and will lessen the risk associated with a replay attack.

I use Mycelium wallet which is a Hierarchical Deterministic wallet. You can have 1 or more accounts within 1 wallet. I also use Coinomi, JAXX and a few others including the Ledger Nano S.

I tested this process using my Mycelium wallet in conjunciton with Electron Cash … a new tool by an anonymous programmer. Since the tool is new, BE CAREFUL. TRANSFER ALL OF YOUR BITCOINS TO ANOTHER WALLET FIRST. When your BALANCE = $0, then start the process. NOTE: You are NOT transferring BCH (BCC). You won’t even see your Bitcoin Cash (BCH) because if you did, you would not need this tutorial.

NOTE: Bitcoin Cash symbol is BCC on some exchanges and is BCH on other exchanges. BCC has already been taken by BitConnect Coin but someone forgot to send a memo to the Chinese exchange, viaBTC and the miners.

Go to http://electroncash.org and download the *.exe file for Windows. There are also downloads for Linux and Apple OS.

1. CRITICAL and MANDATORY STEP: Move all your Bitcoins to a brand new bitcoin wallet. This will move only your BTC, and not your BCH, because the BCH blockchain has replay protection. Wait until the transaction is confirmed. If you skip this step, you MAY lose your bitcoins. SO DO IT!

2. If you are using the Electrum wallet, Install Electron Cash on a machine that does not have your Electrum wallets.

3. When installing the software, be sure to “Select Server Manually”. Due to a bug in the software, do NOT select “AutoConnect” or you will be on the Bitcoin chain instead of the Bitcoin Cash chain.

How To Install ElectronCash for BitcoinCash Transfer

4. On the next display, choose electroncash.cascharia.com as the server. Right click. Then “Choose as Server”. Then Click Next

Electron Cash Choose Server manually for Bitcoin Cash Claim

5. Now it is time to create the new Bitcoin Cash wallet so you can claim your BCH. You can keep the default wallet name or name it whatever you want. Then click NEXT.

Select Standard Wallet for Electron Cash

6. Choose Standard Wallet. Click Next

Set up electroncash BCH wallet

7. Now since you want to access the BCH from your OLD EXISTING wallet, choose “I already have a seed”. Then Click NEXT.

In another article, I will address using public and private keys.

Your seed is just the 12 or 15 word pass phrase that you received when you installed and set up your OLD wallet. A seed is just a ‘key’ to generate your private key in the background. Don’t worry about that right now. Lose Your Seed … Lose Your Bitcoins PERIOD! And Again… MAKE SURE YOUR OLD WALLET HAS A ZERO BITCOIN BALANCE! THIS IS CRITICAL! If you have ignored my warning, here it is again. SEND YOUR BITCOINS TO A NEW WALLET. Here are some great wallets Best Bitcoin Wallets

Install Old Bitcoin Wallet Seed into ElectronCash New Wallet for BCC – BCH

8. Enter the seed (your 12 or 15 words pass phrase) of your old empty wallet and be sure to click OPTIONS and choose BIP39 seed. CLICK NEXT. Since your BTCs have been moved to a new wallet, entering your seed will NOT put your Bitcoins at risk! You did transfer all of your bitcoins out of your old wallet, right?

ElectronCash Enter Seed from old Bitcoin Wallet to get Bitcoin Cash

9. The next display will be for ‘derivation’. Do NOT change that. Click NEXT

ElectronCash BIP39 Derivation

10. ALWAYS encrypt your wallet with a password. So enter a STRONG password. (not your birthday or your dog’s name or your license plate. Use a combination of upper and lower case alphabets, numbers, and symbols). Then click NEXT

Encrypt ElectronCash Wallet with Password

11. FINALLY YOU WILL SEE AT BOTTOM LEFT THAT YOUR NEW ELECTRON CASH WALLET IS SYNCHRONIZING WITH THE BLOCK CHAIN! CONGRATULATIONS! You will see all of your bitcoin transactions up until 31July2017. You are now on the BitcoinCash Blockchain. You are ready to rock n roll.

View the video above to send your BitcoinCash (BCH or BCC or BCash) to an exchange (Cryptopia, Bittrex, Bitfinex, YoBit, viaBTC, Bitfinex, and HitBTC) to sell it for Bitcoins! The reason I mention these 6 exchanges is because as of today they are the only exchanges that will allow us to DEPOSIT and WITHDRAW Bitcoin Cash (BCC, Bcash, BCH). The others are still on lock down. The video shows how to do it in both Cryptopia and Bittrex.

SIDE NOTE: Bitfinex ain’t doing right. They are giving you 85% of your bitcoins in Bitcoin Cash instead of 100%. And of course there is Coinbase / GDAX who was going to take it ALL. But threats of class action lawsuits caused them to change their mind. But Coinbase won’t give you your Bitcoin Cash until January 2018 AFTER they make loads of profits off of YOUR Bitcoin Cash! And Poloniex issued a press release “Bitcoin Cash (BCH) balances will be credited by 8/14, for more information: https://poloniex.com/press-releases/2017.08.03-Bitcoin-Cash-Update/“.

Back to the topic at hand …

Following these easy steps you will be able to access your BCH without compromising your BTC.

I was not successful using only the Master Seed to import the seeds of EVERY account (bitcoin wallet address). I was successful using each wallet address Private key manually to perform the above. Stay tuned for the next blog post on how this is done.

And I was successful importing private keys into Coinomi and receiving my Bitcoin Cash (BCH or BCC on some exchanges)

Faith Sloan better known as "Queen Wiki" or "Crypto Queen" is a cryptocurrency enthusiast and trader. She has been a software engineer for 40 years and builds Decentralized Apps (DApps) on the Ethereum blockchain and plays with Tech toys. When she is not teaching, researching and writing about Cryptocurrencies, she's traveling the world and feeding her eating hobby.